The company’s production for the quarter rose 9% (YoY) and this was reflected in the revenue growth for Q3FY16. Consolidated revenue grew 8% at Rs.597 crore, with 50% coming from own manufacturing facilities, 39% from JVs and 10% from outsourcing and imports. Net profit was at Rs.58 crore, up 28%. EBITDA rose 19% to Rs.117 crore and margin rose to 16.26% from 19.66%.

The company’s consolidated debt has gone up to Rs.319 crore, up from Rs.243 crore as at 31^st March 2015. And due to this, we see that YoY, interest outgo has surged 61% to Rs.9 crore. Tax outgo was also up 50%. Power and fuel is its second biggest cost after raw material, comprising 24% of total expenses. The company will benefit with Petronet signing the Ras Gas contract as it will result in significant reduction in fuel cost. The 6.50 MSM polished vitrified tiles greenfield facility at Malootana (Rajasthan) has commenced operation on 15th January 2016.